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...The attorney-general’s office suggested the $175mn bond, which is underwritten by Knight Specialty Insurance Company, should be deemed ineffective, and Trump given another week to find an alternative backer...
...Europe’s second-biggest insurer, which cemented its focus on property and casualty insurance with the $15.3bn acquisition of XL in 2018, said it would prioritise dividend growth and annual share buybacks...
...Mercedes-Benz said Baltimore was among several ports used by the company in the US....
...Lloyd’s insurers Tokio Marine Kiln, Chaucer and Liberty Specialty Markets are among those that have pledged to hold the risk for a total of £500mn of insurance coverage written in partnership with these...
...Yet many of the companies operating there are not insured. According to Axa XL, of the 4,400 operational LEO satellites in 2021, just 47 were covered....
...An index of specialist catastrophe bond funds has climbed 19 per cent in five years, according to insurance database Artemis. What might XL fetch?...
...Their performance was helped by a few big successes such as insurance group Skyward Specialty, which has risen 125 per cent since listing a year ago, and Rayzebio, which is up 244 per cent, driven by news...
...Gains for companies such as insurance group Skyward Specialty and biotech company Rayzebio more than offset losses for high profile tech flops like Instacart....
...Russia’s invasion of Ukraine has had a serious impact on political-violence insurers, with payouts for destroyed buildings one of the main areas of claims paid by carriers, typically to western companies...
...“It has become a bigger company and this could create the perception that it needs more insurance,” said Kevin Lacroix, an attorney and executive vice-president at RT ProExec, a unit of RT Specialty, an...
...Catastrophe insurance is a leading indicator....
...“Insurance and grain futures were once distrusted concepts that evolved into the important risk-management tools we know today....
...The IRA has created an opportunity for new kinds of insurance products, too, said Jordan Tamchin, tax insurance practice leader at CAC Specialty, a broker....
...European co-ordinator at Insure our Future Lindsay Keenan said Munich Re’s decision sent a message to the insurance industry and energy companies that they could struggle to find cover if they do not “align...
...Liberty Specialty Markets....
...Convex is just one of a number of insurance companies to raise fresh funds in recent months....
...The insurer said its Axa XL unit, a commercial insurance specialist and reinsurer, had shown resilience despite claims linked to Russia’s invasion of Ukraine....
...But that integration has not been without its problems, with the head of Axa XL being replaced in 2020 at the same time that it downgraded an earnings target for the unit....
...The company estimates its Axa XL division will pay out €400m, before tax and after reinsurance recoveries, as a result of Hurricane Ida, which hit Louisiana at the end of August and also caused destruction...
...Axa’s results were bolstered by a strong underwriting performance at its Axa XL division, which benefited from an upswing in commercial insurance prices....
...The company also reinstated its first half dividend....
...Axa XL, a division of the French insurance group, will pay more than €50m under the settlement, according to the report....
...The details of the correspondence emerged in the claim by Tata, which is suing three of Gupta’s companies — Liberty Specialty Steels, Liberty House Group and Speciality Steel UK — over the partial payment...
...The centrepiece of that plan was the $15bn acquisition of Bermuda-based XL, and the demerger of its US life insurance business, Axa Equitable....
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